Thursday 08 April 2021

New York-based governance platform company Diligent Corp. has closed the acquisition of Canada-based SaaS governance, risk and compliance software provider Galvanize, to expand GRC Saas Platform, the company said.

Financial terms of the transaction were not disclosed.

The Galvanize transaction follows Diligent's acquisition of Steele Compliance Solutions, Inc., an ethics and compliance SaaS, which the company agreed to acquire in February.

With the acquisition of Galvanize, Diligent will become the largest SaaS GRC provider. The combined solution with enrichment from Steele will enable an integrated GRC picture from Audit, Risk, Information Security, Ethics and Compliance across the organisation directly to the CEO, CFO and board.

Credit Suisse served as the exclusive financial advisor, and Willkie Farr and Gallagher LLP served as the legal advisor to Diligent.

For Galvanize, Evercore served as the financial advisor, and Fasken Martineau DuMoulin LLP served as the legal advisor.

Diligent powers modern governance with a platform that provides new ways for leaders to digitally transform their governance practices, from increasing board and executive effectiveness to proactively managing risk and compliance practices to integrating real-time industry and company data like cyber risk scores and board composition.

Galvanize provides cloud-based security, risk management, compliance, and audit software.